The Research On Expansion Strategy Of Electric Insurance Market Of Yingda Property Insurance Company

Since the recovery of China's insurance industry in the 1980 s,after nearly 40 years of development,it has become the second largest in the world.However,China's insurance industry is large but not strong.The density and depth of insurance still lag far behind developed countries.As far as the property insurance market is concerned,the market structure of oligopolistic competition is still obvious.Small and mediumsized property and casualty insurance companies are still difficult to develop subject to factors such as brand,capital,talents and technology.Small and medium-sized insurance companies have expanded their new non-competitive market space by combining their own advantages,and achieving blue ocean transformation is an inevitable development trend.This article takes Yingda Property Insurance Company(YPIC)as the research object,and focuses on the power industry chain,and takes the power industry chain insurance market as the target market.Firstly,using PEST analysis and competitive environment analysis methods,the opportunities and threats faced by the expansion of the electric insurance market are analyzed.The advantages and disadvantages of the company are determined through the analysis of the company's organizational structure and internal resources.Then the paper uses SWOT analysis method to summarize the company's power brand,cost and shareholder resource advantages,as well as the disadvantages of low visibility,extensive management,lack of talents and outlets,single and narrow sales channels,and clear the company's decision-making direction.Secondly,it puts forward the strategic goals and design ideas of YPIC,and designs specific strategies for business expansion in the electric insurance market from the aspects of channel selection and innovation,research and development of power specialty products and supporting services,flexible pricing and promotion methods.Finally,the specific implementation steps and safeguard measures of the power insurance market expansion strategy of YPIC were formulated.The obstacles that may be faced in the development of the business process were analyzed and a targeted response strategy was proposed.The implementation effect of the strategy was predicted.The author hopes that this paper can provide some suggestions on market positioning,promoting business and channel innovation,getting rid of businessshrinking dilemma,enhancing market competitiveness,and achieving sustainable development of the company for YPIC.At the same time,the company's exploration and practice in the field of electric characteristic insurance also serves as a reference for other insurance companies to expand the insurance market in a specific industry.